© Dukascopy Bank SA
- BofA Merrill Lynch (based on Bloomberg)
Pair's Outlook
Today the Euro has prolonged its decline against the Japanese Yen, after the pair dropped below the weekly S1, 55 and 100-day SMA at 137.97/79. EUR/JPY touched the 137 level earlier today, moreover; we expect that his level will underpin the pair for now. At the same time, the monthly technical studies are bullish, while the daily and weekly are pointing sideways. To change the current down-trend the pair has to break the previously mentioned levels to the up-side.
Traders' Sentiment
The traders' sentiment remains more or less neutral, as 52% of them are expecting the Euro to outperform its Japanese peer. Concerning the orders placed 100 pips from the spot, there are now significantly more commands to sell—62%, after yesterday's 47%.
© Dukascopy Bank SA